Thai feed companies allowed to raise prices

Feed companies in Thailand will soon be finally
allowed to hike prices to offset rising production costs. Shrimp and pig feed
are the first feeds that will be sold against a higher
price.

Thai feed producers have been asking for permission to raise prices since
the costs of raw materials, including soybean meal and powdered fish, shot up
last year. The government froze animal-feed prices in 2004, and has not approved
price increases since then out of fear that they would cause a chain effect on
related industries.

Now, the Commerce Ministry will allow retail prices
to go up soon, Internal Trade Department director-general Yangyong Phuangrach
said last week. The new prices would be gradually implemented to give both
consumers and farmers more time to adjust.